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Given the following information, determine whether illegal income is likely in Year 2 and Year 3. If so, determine the amount of unknown income:
Given the following information, determine whether illegal income is likely in Year 2 and Year 3. If so, determine the amount of unknown income: Financial Data Year 1 Year 2 Year 3 Assets: Residence 200,000 200,000 200,000 Stocks and bonds 60,000 60,000 84,000 Automobiles 40,000 40,000 80,000 CD 100,000 100,000 100,000 Cash 12,000 24,000 28,000 Liabilities: Mortgage balance 180,000 100,000 - Auto loan 20,000 - Income: Salary Other Expenses: 68,000 72,000 12,000 12,000 Mortgage payments 12,000 12,000 Auto loan payments 8,400 8,400 Other living expenses 40,000 44,000
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